Yankang Technology has been penalized with a fine of 12 million yuan by regulatory authorities for failing to comply with certain standards in the market.
The fine was imposed on May 16, 2025, in connection with the company’s activities related to “Yankang Technology First Section.” A review conducted over the past year revealed violations concerning the disclosure of information. On May 15, the company’s operational license was found to have limitations, leading to the regulatory body’s decision to issue a fine.
Yankang Technology, established in 2006, quickly became a leader in the solar energy sector. By 2011, it was recognized as a principal player in the market, specializing in solar battery manufacturing. It has since expanded its operations and maintained a competitive edge in the industry.
The China Securities Regulatory Commission has mandated that the company undergo an investigation. By June 2024, the commission is expected to finalize its review of the company’s compliance with regulatory standards.
Reports indicate that between 2019 and 2023, the company faced significant scrutiny regarding its operations, leading to a substantial increase in penalties recorded. The investigations revealed that the company’s financial disclosures were not in line with expected standards.
In terms of revenue, the company reported figures of 660.50 million yuan for the first quarter of 2023, 979.60 million yuan for the second quarter, and 3.357 billion yuan for the third quarter, indicating a year-on-year growth rate of 15.36%, 15.61%, and 456.51% respectively.
In addition, the company has been actively involved in exploring new energy solutions and has made significant investments in the development of innovative technologies aimed at enhancing energy efficiency.
The recent penalties highlight the ongoing challenges faced by companies in adhering to compliance regulations, emphasizing the importance of transparency and accountability in the rapidly evolving energy sector.
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